• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.281-288
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• 2019

This study examines the relationship between R&D intensity and disclosure. R&D activities are essential in bringing innovation to companies. However, R&D activities are naturally uncertain and increase information asymmetry. Thus, firms with high R&D activities are more likely to have the incentive to communicate the potential of R&D investment to the market through voluntary disclosure and, concurrently, resolve information asymmetry. Meanwhile, incentives to less voluntary disclosure exist because of the proprietary cost and the risk of competitiveness loss. Furthermore, the uncertainties inherent in R&D activities caused the possible decrease in the information accuracy. For the two opposing views, this study investigates the relationship between R&D intensity and disclosure frequency using the Regulation Fair Disclosure data in Korea. Moreover, the relationship between R&D intensity and usefulness of the information disclosed is also examined. Using firm sample listed in the 2011-2016 Korea Stock Market, results show that firms with high R&D intensity make disclosures more frequent. Subsequently, the analysis using forecast sample shows that management forecast error is higher in firms with high R&D intensity. This research contributes to the existing literature by presenting evidence that R&D intensity is a significant factor affecting manager's disclosure behavior and information usefulness.

• Journal of Environmental Science International
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• v.27 no.8
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• pp.701-709
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• 2018

Few prior studies investigated the correlation between corporate ownership structure and environmental information disclosure. Using environmental index disclosure in GRI (Global Reporting Initiative) reports of the Korean companies, the study examines the effects of ownership structure on the magnitude of environmental information disclosure. A total of 220 firm-years during 2013-2016 period are analyzed. The empirical results of the study indicate that the institutional and foreign investors' ownership have positive correlations with environmental information disclosure, while the executives' within board of directors has a negative correlation. The ownership by largest shareholders including those with special interests shows no significant relationship with the environmental information disclosure.

• The Journal of Korean Association of Computer Education
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• v.13 no.2
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• pp.71-80
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• 2010

This study has its purpose on analyzing the problems of data connection between general management institution and itemized management institution shown through the college information disclosure project and presenting the plan to substantialize data connection between general management institution and itemized management institution. To make close inquiry into the related problem and induce plans for substantialization, this study analyzed the previous related research data as well as the connection status of information disclosure item of Korea Foundation for the Promotion of Private School, the itemized management institution, to induce problems; induced substantialization plan for data connection of itemized connection institution. As for the substantialization plan based on such, plan to integrate schools and department codes, plan to automatize data connection and plan to secure reliability of information were established. It is anticipated that the plan to substantialize data connection between management institutions reckoned through the result of this study would be used as the basic data for information disclosure project providing various reliable information from Ministry of Education, Science and Technology, General management institution, itemized management institution and college.

• The Journal of Economics, Marketing and Management
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• v.11 no.2
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• pp.23-32
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• 2023

Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.27-35
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• 2019

The paper examines the level of disclosure on Islamic banks' performance in the United Arab Emirates (UAE). The data was collected through content analysis of annual reports and financial statements of all fully-fledged Islamic banks working in the UAE over the period 2009 to 2013. Return on Assets is used as a proxy for the performance of Islamic banks while disclosure index is used as a proxy for Islamic banks' disclosure. Also, predetermined variables are used in the study like Size, Deposits, Non-Performing Investments and Capital to Risk Weighted Assets Ratio. Two-Stage Least-Square regression method is used to check the interdependence relationships between disclosure and performance of Islamic banks in the UAE. The results show a significant relationship between performance and disclosure in the UAE Islamic banks. Our regression results show that Islamic banks with higher levels of disclosure lead to higher operating performance. Furthermore, the performance has a great impact on the level of disclosure which means Islamic banks with high performance measures will disclose more information for investors and other institutions in order to reduce the cost of equity and increase their values in the market. This study is considered as a battery for further studies in the relationship between disclosure and financial performance of Islamic banks at a global level.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.271-281
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• 2020

This study aims to investigate whether and why the disclosure of full financial information to estimate taxable income (TI) is incrementally useful for investors' decision making at earnings announcements. This paper shows analytically that the information content of TI beyond book income is determined by the relative informativeness of TI exceeding that of book-tax differences (BTDs), and therefore should be affected by the earnings quality of TI relative to BTDs. This study collects data on earnings announcements from Korean listed firms and employs multiple regression tests for earnings persistence, a major indicator of earnings quality, of TI and BTDs and their information content. The empirical test results show that TI is more persistent than BTDs for the entire sample in this study. Further, the investors' reaction to TI is greater than that to BTDs, and the market response to TI controlling for BI is positive. However, the market test results are significantly observed only in the subsample group with full disclosure of financial statements, not in the samples with disclosure of aggregated earnings only. In sum, this study provides new evidence that the TI information obtained from a detailed earnings announcement is useful for investors in addition to book income.

• Journal of Korean Academy of Nursing Administration
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• v.6 no.2
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• pp.165-176
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• 2000

The purpose of this study was investigate the self-disclosure and self-esteem of senior nursing students in two types of nursing education programs : baccalaureate and associate programs. The subjects were comprised of 365 associate degree nursing students from five junior college and 297 baccalaureate degree nursing students from six universities. The data were collected conveniently by self reporting questionnaires given to the students from september 13 to october 23, 1999. The instruments used JSDQ and Self-esteem scale. The data were analyzed by $SAS/PC^+$ program using descriptive statistics, $x^2-test$, t-test, pearson correlation coefficient. The results of this study are as follows : 1. There was significant difference in religion(p=.001), motive of entrance of college( p=.001) and satisfaction of nursing practice(p=.038) between baccalaureate degree nursing students and associate degree. 2. The extent of self-disclosure in baccalaureate degree nursing students had significantly higher than that in associate degree nursing students(p=.0022). 3. An object for self-disclosure were girlfriend, mother, boyfriend and father successively. 4. The extent of self-esteem in baccalaureate degree nursing students had significantly higher than that in associate degree(p=.0224). 5. The relationship between self-disclosure and self-esteem revealed a positive significant correlation(r=.2628, p=.0001).

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.21-36
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• 2020

Purpose - This study analyzes the effect of sellers' dishonesty on various market outcomes such as seller profit, buyer profit, and market welfare, through precisely measuring the level of sellers' information disclosure and its economic impacts. As an explicit observation of sellers' dishonesty is not easy in most other settings, this study is expected to suggest unique and meaningful implications on the effect of sellers' incomplete information disclosure to researchers, managers, and policy makers. Design/methodology/approach - In order to precisely measure the level of sellers' dishonesty under information asymmetry, this study analyzes the data from an incentive-based economic experiment using z-Tree software. This experimental method enables us to focus on the strategic interactions among participants, observe the integrity of seller's information disclosure, and reproduce real market situations. Findings - The analysis of sellers' dishonesty has provided the following important and counterintuitive findings about the reality of buyer-seller interactions under information asymmetry. First, sellers' lies do not affect seller profit even when they are very intensive. Second, sellers' dishonesty negatively affects buyer profit and the entire market welfare. Third, a seller's quality claim has a positive effect on the seller profit only when a seller is being honest. Research implications or Originality - This study analyzes sellers' dishonesty using incentive-based economic experiment using z-Tree software which provides a straightforward examination on dishonest behavior of sellers, that is not readily available with other types of observational or experimental data.

• Asian Pacific Journal of Cancer Prevention
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• v.17 no.4
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• pp.1779-1784
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• 2016

Background: Western physicians tend to favour complete disclosure of a cancer diagnosis to the patient, while non-Western physicians tend to limit disclosure and include families in the process; the latter approach is prevalent in clinical oncology practice in India. Few studies, however, have examined patient preferences with respect to disclosure or the role of family members in the process. Materials and Methods: Structured interviews were conducted with patients (N=127) in the medical oncology clinic of a tertiary referral hospital in Bangalore, India. Results: Patients ranged in age from 18-88 (M=52) and were mostly male (59%). Most patients (72%) wanted disclosure of the diagnosis cancer, a preference significantly associated with higher education and English proficiency. A majority wanted their families to be involved in the process. Patients who had wanted and not wanted disclosure differed with respect to their preferences regarding the particulars of disclosure (timing, approach, individuals involved, role of family members). Almost all patients wanted more information concerning their condition, about immediate medical issues such as treatments or side effects, rather than long-term or non-medical issues. Conclusions: While most cancer patients wanted disclosure of their disease, a smaller group wished that their cancer diagnosis had not been disclosed to them. Regardless of this difference in desire for disclosure, both groups sought similar specific information regarding their cancer and largely favoured involvement of close family in decision making. Additional studies evaluating the influence of factors such as disease stage or family relationships could help guide physicians when breaking bad news.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.8
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• pp.86-93
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• 2018

This study examines the differences in the determinants of dividend payout across advance disclosure firms and ordinary disclosure firms using firm-level data from firms listed on the Korea Exchange. Results are as follows: First, firm characteristics of advance disclosure firms significantly differ from those of ordinary disclosure firms in all variables except sales growth and operating risk variables. Second, regression results show that the determinants of dividend payout from ordinary disclosure firms are generally similar to results of previous studies. However, determinants of advance disclosure firms contain only few variables such as Tobin's Q, corporate bond yield, and operating cash flows from conventional factors. Third, logistic regression results show that factors affecting the probability of dividend payment substantially differ across advance disclosure firms and ordinary disclosure firms. These results suggest that the motivation and incentive of dividend payout from firms choosing advance disclosure are substantially and systematically different from those of ordinary disclosure firms.